Real Estate Comparative Guide

1 Legal framework

1.1 What legislation governs real estate in your jurisdiction?

There is no specific legislation on real estate in Myanmar. The relevant framework is set out in several statutes, as follows:

• the Myanmar Constitution 2008, which grants the state the ultimate right to ownership of all land in Myanmar;
• the Transfer of Property Act 1882, which governs the legal mechanism for the transfer of immovable property. In particular, it sets out rules on the transfer, sale, mortgage and lease, gift or exchange of immovable property;
• the Transfer of Immovable Property Restriction Act 1987 (TIPRA), which restricts the transfer of immovable property to foreigners or foreign-owned companies. It also limits the term lease of land to foreigners to one year;